UNDERSTANDING CANDLE STICK PATTERNS 2

It' been a long while since I talked about candle stick patterns and profitable trading. Quiet a lot of people and friends have always asked why I am not so keen about the candle stick and also how I get to interpret them.
Please see my earlier post on candle stick.

TIME FRAMES.

There are various time frames on the Meta4 trading platform, ranging from M5,M15,M30,H1,H4,
D1.
These symbols stands for 5 minutes,15 minutes, 1 hour, 1 day time frames respectively. They reveal the time to which each candle stick will reflect the number and range of traders within that time frame and price actions respectively.

The candle stick as explained by other 'professional traders' does not necessarily give you a signal to where prices will be heading to. Rather it just reveals the price action per time. Some technical analysis uses have drafted and ruled some lines and Fibonacci graphs, Moving average convergence divergence (MACD), hammer heads and crosses respectively to justify the next move of price but honestly that's not it.

The activity the candle stick displays however high it climbs or low it gets is a function of the back end economic activities going on. Most times too is about the sentiments in the market irrespective of fundamental analysis. At any given time frame you could have traders, either shorting a currency(taking quick profits) or going long(for bigger profits).

Retailers traders like me have always believed or being told that ones you understand candle stick patterns like the diagram above you can be a good trader(that's absolutely incorrect).
Again candle stick is just a picture of what the market is doing, revealing many buyers or sellers per time and vise versa.

Ones you have a clear understanding of the fundamentals governing a particular currency. You will clearly interpret the picture the candle stick is given you. That's what makes and informed trader.

I would be putting out a video very soon on the realities to forex trading. I have blown my accounts several times and still do, as well as as make some reasonable pips. I still demo trade side with my live accounts.

The Forex market is an interesting one if you clearly understand the rudiments. Again I recommend you visit www.jarrattdavis.com. He was ranked as the 2nd best Forex trader in the world by Barclays. I have never met him he resides in England but has been the only Fx trader who has clearly explained the rudiments to forex trading and understand the fundamentals.

I look forward to your comments, questions till I we meet again. Hope you made some pips from the US mid-term election fiasco..

Best Regards